Overview of Marketing: Core concepts of Marketing; Marketing
Orientations & Philosophies; Marketing Environment; Buyer
Module
Behavior; Marketing Planning Process; Consumer value and
1
satisfaction; Identification and Analysis of Competitors. Market
Segmentation, Targeting and Positioning strategies
Marketing Mix; The product; New Product Development; Product Life
Module
Cycle; Product Mix decisions; Branding; Packaging and Labeling.
2
Brand Management Process; Brand Hierarchy.
Pricing Decisions; Factors influencing Price – five “C”s; Pricing
Module Techniques, Tactics &Strategies; Distribution Decisions; Channel
3 alternatives; Choice of Channel; Channel Management, Channel
Dynamics.
Managing promotion Mix; Advertising, Personal selling, Sales
Promotion and publicity, Integrated Marketing Communication
Module Marketing Control techniques; Marketing Audit; Social Marketing;
4 Green Marketing; Web Marketing, Digital Marketing, Viral Marketing,
Neuroscience Marketing
Marketing Management
• Marketing is about identifying and meeting human and social needs.
• Marketing is a societal process where in individuals and groups obtain what
they need and want through creating, offering and communicating and
freely exchanging the goods and services of value with another-Philip Kotlar.
• AMA’s formal definition: Marketing is the activity, set of institutions, and
processes for creating, communicating, delivering, and exchanging offerings
that have value for customers, clients, partners, and society at large
Definition-Marketing
Management
• The art and science of choosing target markets
and getting, keeping, and growing customers
through creating, delivering, and communicating
superior customer value-Philip.kotlar
• It is not only the art of disposing what you made
off it is the art of delivering genuine customer
value.
• AMA-The process of planning and executing the
conception, pricing promotion and distribution of
ideas , goods and services that satisfy individuals
and organisation goals.
• AMA Vs Kotlar.
Evolution of Marketing
• Evolution/Concepts/Philosophies
• Marketing as concept
• Today-business-customer requirements
• Production-Technology, mass production,
availability, standardised, customer reach-ability
to reach.
Continue..
• Product concept-win-superior quality, features,
more products, brands.
• Selling Concept-chance-not but-told.
• Marketing concept-identify, develop, satisfy.
• Societal marketing Concept
What is a market
• A set up where two or more parties engage in
exchange of goods, services and information, is
called a market.
• Ideally a market is a place where two or more
parties are involved in buying and selling.
• The two parties involved in a transaction are
called seller and buyer.
What can be marketed
• Goods • Persons
• Services • Properties
• Events • Information
• Experiences • Ideas
• Places
• Organizations
Marketing Environment
• A company’s marketing environment consists of the actors
and forces inside and outside of company that affect
marketing management ability to build and maintain
successful relationships with target customers”. – Philip
Kotler.
• Internal Environment
• Micro Environment
• Macro Environment
Buyer/Consumer behavior
• The study of how Individuals (consumers) make
decisions to spend their available resources(time,
effort, money) on consumption related items.
• The study of how individuals and groups, select,
buy, use, and dispose of goods, services or ideas
or experiences to satisfy their need and wants.
Importance of Buyer Behavior
Consumer Behaviour
• Consumer Behaviour is the Study of how, why and what
people do when they buy products or avail of some
services. It attempts to understand the buyer decision
making process, both individually and in groups.
• Understanding the thinking an behaviour at Pre-Purchase
During Purchase
Post -Purchase
Need Recognition
• Why do I need to purchase this product?
• Difference between Actual state and Desired state
• A need is felt if there exists sufficient or above the
threshold level of Discrepancy.
• Ex: Walkman –i-pod, Realme-i-Phone.
Information search
Internal search External search
• Recalling • Pop
• Motivation • Display
• Opportunity • Hoardings
• Brand • Media adds
• Earlier purchase • Samples
experience • Word-of-mouth
Evaluation of alternatives
• Total set
• Awareness set
• Consideration/Evoked set
• Purchase alternatives
Purchase Decision
• Packaging
• Placement of product in supermarket
• Advertising and promotion
• Price-off
• Emotional attachment
• Brand
• Income
• Festival season
Post purchase Evaluation
• Performance Vs Expectation
• Satisfaction
• Dis satisfaction
• Decide future purchase
Introduction phase
Features Strategies
• Low Sales • Free sample
• High marketing cost • Invest more on Promotion
• No/little profit • Create buzz
• No awareness
• Media coverage
• Limited Distribution
• Leverage SM
• Low competition
Growth Phase
features strategies
• Increase sales • Increase distribution channels
• Increase profit • Offer promotion and discount
• Decrease cost • Repeat purchase
• Expanded Distribution • Customer service
• Increased Competition • Customer loyalty
• New product variations • Develop new features
Maturity phase
features strategies
• Max sales • Product differentiation
• Increase competition • Continue promotion and
• Saturation encourage sales
• Stagnant sales growth • R&D
• Declining profit • New marketing campaign
• Lower prices
Decline phase
features strategies
• Decrease sales volume • Reduce marketing spend
• Decrease profit • Focus most profitable
• Obsolete product features distribution
• Limited distribution • Minimizing inventory
• Possible discontinuation • New pricing strategy
• Replacing
Segmentation, Targeting,
Positioning
• “Different customers have different consumption choices”
• Ex-Poojas Case
• Coca Cola
• Result
• Income, Age, Male, Female, Lifestyle, Interest, taste and preferences etc.
(parameters of relevance)
• Segmentation comes….
STP
• The process of dividing the market into various
homogeneous groups based on common parameters like
age, income, geographical location etc.
• Focussing on one or few segments is called “Targeting”
• Communicating your product differentiation to target
market is “Positioning”
• Segmentation is the process of dividing the market into distinct subsets of
consumers with common needs or characteristics so as to generate
homogeneous groups.
• Ex-shampoo-dandruff, split hair, hair loss.
• Cars-Hatchback, sedan
• Hotels-Deluxe, Luxury, premier.
• Harley Davidson Bike- Roya Enfield.
Benefits
• To distinguish one customer group from another.
• Proper choice of target market.
• Use resources-efficiently- optimally.
• insights into the value sought by each segment.
• Understand competitive situation.
• Spot the less satisfied segments.
• Unique opportunities.
Basis for Segmentation
Demographic Geographic
Segmentation Segmentation
• Gender • Country
• Age • City
• Income • Region
• Occupation
• State
• Education
• Family lifecycle
Types of segmentation..
Psychographic Behavioural
Segmentation Segmentation
• Personality • Knowledge
• Lifestyle • Attitude
• Values-Norms-Beliefs • Purchase History
• Interests • Usage
• Loyalty
Targeting
• Segment Size
• Growth
• Attractiveness
• Organisational Philosophy/Objectives
• Orientation
• Resources
Targeting Strategies
• Single Segment Concentration.
• Selective Specialization.
• Product Specialization.
• Market Specialization.
• Full Market Coverage.
Advertisement 1: Cadbury Dairy Milk
https://www.youtube.com/watch?v=Lm3iQ7e4TAk
Advertisement 2: Raymond
https://www.youtube.com/watch?v=8Cggg8ocFjo
Positioning
• Positioning is the act of designing a
company’s offering and image to occupy a
distinctive place in the minds of the target
market.
• This creation of positive imagery in the mind
of the target consumer is called “Positioning”
Product/Service Differentiation
Product Service
• Form • Ordering ease
• Features
• Performance
• Delivery
• Conformance • Installation
• Durability • Customer training
• Reliability
• Repairability
• Customer consulting
• Style/Design • Maintenance and Repair
Process of Positioning
• Frame of Reference
• POP (Points of Parity)
• POD (Points of Difference)
• Brand Mantras
(3-5 word phases)
Positioning Examples
1. Google Re-Union Ad
https://youtu.be/gHGDN9-oFJE?si=_NPYmewBEsniuoFS
2. Incredible India-Ad
https://youtu.be/8Sn_jFlcSYw?si=oubGSq3eeE2zyhtY
3. Hamara –Bajaj
https://youtu.be/scltYH13uEY?si=pmBbFE0r2KhXJViM
Example
Nike
• Brand Positioning: Inspiring athletes worldwide.
• Brand Mantra: Just Do It. !Nike
Apple
• Brand Positioning: Innovative technology for creative
individuals.
• Brand Mantra: Think Different. !Apple
• Tesla
• Brand Positioning: Leading the transition to sustainable
energy.
• Brand Mantra: Electric Cars, Solar & Clean Energy. !Tesla
Starbucks
• Brand Positioning: A premium coffee experience.
• Brand Mantra: One Person, One Cup, and One Neighbourhood
at a Time. !Starbucks
New Product Development
• The process of bringing a new product or service to the market.
The stages involved in the process of new product development
are sequential and interdependent.
